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Mortgage Rates

BUSINESS
April 13, 2012 | By E. Scott Reckard, Los Angeles Times
Mortgage rates are sharply lower on news of a weakening job market, with the 30-year fixed loan averaging 3.88% this week and the 15-year fixed at a record low of 3.11%, according to Freddie Mac. The average for the 30-year loan was down from 3.98% a week earlier, Freddie Mac said in its latest weekly report. The 15-year mortgage, popular with refinancers seeking to pay off their loans, was down from 3.21% a week ago. Its previous record low of 3.13% was set March 8. The start rates for adjustable mortgages were little changed.
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BUSINESS
May 10, 2012 | By E. Scott Reckard
Mortgage rates have descended further into record low territory for the second straight week, with the average for a 30-year, fixed-rate loan dropping to 3.83% from 3.84% last week, Freddie Mac said. The 15-year fixed loan also dipped to a record low, falling from 3.07% to 3.05%, according to  Freddie Mac's latest survey , released Thursday. Borrowers would have paid an average of 0.7% in upfront lender fees to obtain the fixed-rate loans. People with solid credit and incomes who shop around or who pay additional discount points to lenders often can obtain slightly better rates than those quoted by Freddie Mac. Adjustable loans were mixed.
BUSINESS
December 19, 2013 | By E. Scott Reckard
Mortgage rates rose a bit this week following positive news on home building, with Freddie Mac saying lenders were offering a 30-year fixed-rate loan at an average of 4.47%, up from 4.42% last week. The average for a 15-year fixed was 3.51%, up from 3.43% last week, Freddie Mac reported Thursday. Its survey assumes borrowers have solid credit and income, provide at least 20% down payments or home equity, and pay less than 1% of the loan amount in lender fees and points. Start rates on popular types of adjustable rate loans also were higher, Freddie Mac said.
BUSINESS
October 3, 2013 | By E. Scott Reckard
Mortgage rates have tumbled for the third straight week, with Freddie Mac pegging the 30-year fixed loan at an average of 4.22%, down from 4.32% last week to the lowest level since June. But what good is a low rate if a lender can't process your application? A protracted government shutdown would hamper the ability of lenders to confirm borrowers' incomes and identities, as well as threatening loans that are backed by agencies such as the Federal Housing Administration. “The federal government shutdown will have a growing impact on the housing market the longer it continues,” David H. Stevens, president and chief executive of the Mortgage Bankers Assn., said in a statement Thursday.
BUSINESS
March 13, 2014 | By E. Scott Reckard
Mortgage rates edged higher early this week, with Freddie Mac's survey showing lenders offering 30-year fixed-rate loans to solid borrowers at 4.37%, up from 4.28% a week earlier. The average rate for a 15-year fixed home loan rose from 3.32% to 3.38%, according to Thursday's report , and the start rate also rose for variable-rate loans with an initial five years at a fixed rate. Analysts said a positive report on employment late last week contributed to the trend. The economy added a better-than-expected 175,000 jobs in February despite harsh weather, the government said, and figures for the two previous months each were revised upward by 25,000.
BUSINESS
July 18, 2013 | By E. Scott Reckard
Fixed mortgage rates have settled down along with fears of an abrupt end to the Federal Reserve's economic stimulus efforts, with the average 30-year home loan rate falling from 4.51% last week to 4.37% early this week, according to Freddie Mac. Freddie Mac's latest survey of what lenders are offering to solid borrowers, released Thursday morning, showed the average rate for a 15-year fixed home loan also fell, from 3.53% last week...
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